Last year, many homeowners saw incredible gains in equity as home prices continued to rise. With interest rates inching upwards, many of those homeowners are taking advantage of their new equity to sell their homes and take advantage of today’s low mortgage rates… If you’re one of those homeowners looking to sell, how does an extra $25,000 for your home sound?
According to a report published in the Journal of Housing Research, that’s the difference working with an experienced real estate agent can make. The study compares real estate agents with little experience with those who have been in the industry for a while. According to Bennie Waller, a professor of finance in real estate at Longwood University in Farmville, VA, and the author of the report, “The more experience you have, the more likely you are to sell the properties that you list, the more likely you are to sell it at a higher price and the less time it stays on the market.”1 For real estate agents, experience brings numerous advantages.
For example, experienced agents tend to have better market knowledge, stronger negotiating skills, and a wider professional network—all of which help to provide you with the smoothest home selling experience possible Whatever your reason for selling your home, choosing the right agent is crucial. Let’s take a closer look at 3 major benefits of working with an experienced agent. 1. An Experienced Agent Will Sell Your Home for More The more experience an agent has, the better he or she understands how to list, market, and sell your home. This means selling your home for more—12.6% more, or $25,000, on average.
Why? First, negotiation is a critical part of selling a home, and experience agents have a lot of practice negotiating. There are so many situations that can arise—first offers, multiple offers, renegotiating after a home inspection—and a skill agent will know how to represent your interests through it all. They will negotiate on your behalf, and ensure that you get absolute top dollar for your home. Second, experienced real estate agents also understand your neighborhood and market conditions. Today, many markets “seller’s markets,” or markets where there are more people trying to buy homes then there are homes available.
This means many homeowners are able to sell their homes for even more.
Experienced agents can help you devise a competitive pricing strategy based on your market that will get you top dollar for your home.
An Experienced Agent Is More Likely to Sell Your Home In general, agents with more experience are more likely to sell your home. In fact, the same report finds that veteran agents, or agents with more than 10 years of experience, are 1.6 times as likely to sell your home compared to rookie agents or agents with less than two years of experience.
Agents with a lot of experience in a specific area or neighborhood are tuned into why and how homes in that area sell. These agents work with you to develop tailored staging, pricing and marketing strategies so that your home gets represented in the best possible light to the most possible buyers. The same is especially true for distressed or underwater homeowners. An underwater homeowner is someone who owes more on their mortgage than their home is worth. Selling a distressed property can be complicated, and it takes an experienced agent to understand and help you navigate the options available.
For example, a short sale is often a good option for homeowners underwater on their mortgage. In a short sale, a lender accepts less than the full balance owed on a loan. However, successfully completing a short sale requires the agent to have intimate knowledge of the process and paperwork, a strong supporting team, and good report with lenders, among other qualities. Agents trained and experienced in distressed properties will possess all of these tools and more.
An Experienced Agent Will Sell Your Home More Quickly Experienced real estate agents also help your achieve your goals much, much faster. In fact, veteran agents sell homes 32% faster than rookie agents. With all the stress that can come with moving or selling a home, less time on the market means fewer headaches for you. In addition to pricing and staging your home properly, experienced agents have a wide professional network. By reaching out to their extensive network, these agents are able to find the perfect buyer for your home more quickly. For struggling homeowners, experienced agents with specific training can help you sell your home up to 50% faster.
In addition to a wide network, experienced agents understand the ins-and-outs of selling a distressed property, from identifying the best solution to completing the process in the most efficient way possible.
For Experience and Expertise, Work With a CDPE! As an experienced real estate agent with the Certified Distressed Property Expert® (CDPE) designation, I have devoted myself to serving the homeowners in our area. Whatever your reason for selling your home, I am here to help!
As a CDPE, I am extensively trained and experienced in helping clients facing foreclosure find the best possible solution to their situations. I’m plugged into the major lenders, up-to-date on Federal and local government assistance programs, and a member of the real estate industry’s most recognized network of agents.
Today, there are more options than ever for homeowners facing foreclosure. It is my mission to help as many homeowners as possible find the solution for their situation! If you or someone you know is facing foreclosure, contact me today! I’m here to serve as a trusted advisor and to lend all of my training, experience, and expertise to helping you navigate your options. What You Need To Know!
Chris B. Johnson, Realtor, CDPE, SFR, BPOR, HAFA, CDAT
Allison James Elite
Cell # 805.208.0823 CA. BRE 01501699